“As a result, I expect cloud revenue, excluding Cerner, will continue growing at at least similar rates to what we experienced in fiscal 2023, even though our base is much bigger and may be higher.”

In context

“xchange rate. Additional upside depends on how fast we can put out even more capacity to our customers. Total cloud revenue, again, excluding Cerner, is expected to grow from 28% to 30% in constant currency and 29% to 31% in USD. Non-GAAP EPS is expected to grow between 8% to 12% and be between $1.11 and $1.15 in constant currency. Non-GAAP EPS is expected to grow between 9% to 13% and be between $1.12 and $1.16 in USD. My EPS guidance assumes a base tax rate of 19.5. However, as you see nearly every quarter, one-time tax events could cause actual tax rates to vary. Now, before I finish, let me also give you some initial thoughts on fiscal year 2024. As I described, and Larry will elaborate in depth, we are seeing unprecedented demand for our cloud services and especially our AI services. As a result, I expect cloud revenue, excluding Cerner, will continue growing at at least similar rates to what we experienced in fiscal 2023, even though our base is much bigger and may be higher. As our high-growth cloud revenues are becoming a larger, larger portion of total revenue, we are seeing an acceleration of our total revenue growth. I expect this trend will continue in fiscal 2024. And of course, we also expect to deliver a higher non-GAAP operating margin percentage this coming year as well. Okay. Before I hand off to Larry, I want to take a moment to thank our customers for making fiscal year 2023 such an enormous success. You've been wonderful partners, and we thank you for your trust in us. And I want to thank our employees for being focused on advancing our customers' missions so spectacularly. Some of you are new, and many of you have been with us for years, in fact, even decades. And I think you all see that our best days are, in fact, ahead of us. Thank you for y”